Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Target Price at $102.88

Qorvo, Inc. (NASDAQ:QRVO) has earned a consensus rating of “Hold” from the seventeen analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $102.88.

QRVO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Craig Hallum dropped their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Benchmark downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BNP Paribas lowered shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research report on Wednesday, October 30th. Finally, Piper Sandler cut their price objective on Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

Qorvo Trading Up 1.0 %

Shares of QRVO opened at $69.05 on Friday. Qorvo has a twelve month low of $64.98 and a twelve month high of $130.99. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $6.53 billion, a P/E ratio of -47.29, a PEG ratio of 5.48 and a beta of 1.49. The firm’s 50-day moving average is $87.50 and its two-hundred day moving average is $102.26.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.99 EPS. On average, research analysts predict that Qorvo will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. This represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Several institutional investors have recently bought and sold shares of the business. Mather Group LLC. lifted its holdings in shares of Qorvo by 5.6% during the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after acquiring an additional 96 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Qorvo by 5.0% in the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after buying an additional 107 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares in the last quarter. Finally, American Trust raised its holdings in shares of Qorvo by 5.8% during the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after buying an additional 115 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.